5. Income Tax	3 Months Ended
Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Tax	The Company provides for income taxes using the asset and liability approach. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. For the first quarter of 2020 the Company expects to utilize net operating losses generated in the current year to offset future deferred tax liabilities derived from the sale of assets in 2018. The company expects its overall effective tax rate for 2020 to be around 20.89%. As of March 31, 2020 and December 31, 2019, the Company has a partial valuation allowance on net operating losses that may not be able to be utilized fully. For the three months ended March 31, 2020 the Company recorded a tax benefit of $32,611 as compared to a tax benefit of $12,888 for the comparative three month period ended March 31, 2019.

5. Income Tax

3 Months Ended

Mar. 31, 2020

The Company provides for income taxes using the asset and liability approach. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. For the first quarter of 2020 the Company expects to utilize net operating losses generated in the current year to offset future deferred tax liabilities derived from the sale of assets in 2018.

The company expects its overall effective tax rate for 2020 to be around 20.89%.

As of March 31, 2020 and December 31, 2019, the Company has a partial valuation allowance on net operating losses that may not be able to be utilized fully.

For the three months ended March 31, 2020 the Company recorded a tax benefit of $32,611 as compared to a tax benefit of $12,888 for the comparative three month period ended March 31, 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

CBA Florida, Inc. 10-Q